The Quorum Blockchain, which takes up the bases of Ethereum, will be used for the traceability of gold ingots. The $ 2.534 Billion Capitalization Market Capitalist Will Use the Blockchain to "Tokenize" these ingots with electronic tags .
Create gold with Quorum.
JP Morgan has always been interested in Blockchain since its inception. In particular, the company has shown its interest in the ability of this technology to improve asset management, eliminating maintenance costs and, of course, taking advantage of the potential of smart applications.
To take advantage of all this potential, JP Morgan has partnered with Quorum, which will be responsible for tokenizing the gold bullion, and will allow miners to earn bonuses on the global market.
Umar Farooq, head of Blockchain initiatives at JP Morgan in New York, said:
"There are people outside our company who use Quorum to create gold, for example. They wrap a gold bar in an electronically labeled tamper-proof casing, and can follow the ingot of the mine until final delivery. "
JP Morgan declares his flame to Ethereum
Ethereum's protocols and smart contracts fascinate JP Morgan's management, and in this new perspective, the banking giant has not hidden its fondness for the platform .On the other hand, he announces that Quorum based on Ethereum will bring a flourishing to the company . The bank said:"We are the only financial player with everything from application to protocol. We believe in Ethereum a lot, "says Farooq.
"We will not comment on the speculations. However, Quorum has become an extremely successful business platform, beyond financial services, and we are excited about its potential. "What do you think of Quorum? Give us your opinion in the comments section.